After $3K Weekend Correction: Bitcoin Targets ATH Amid Anticipated Futures ETF (Market Watch)
After the massive price drops below $59,000, bitcoin went on a roll again and added nearly $4,000 of value in hours. Most altcoins have stood behind once more, leading to another increase of BTC’s dominance.
BTC Eyes New ATH?
The weekend started on a high note following the reports that the first-ever Bitcoin futures ETF could go live in the US this week. The primary cryptocurrency’s price went to a six-month high at nearly $63,000 as a result.
The landscape calmed on late Saturday and early Sunday before the bears came to play again and pushed the asset south. In a matter of hours, bitcoin lost several thousand dollars and dumped to below $59,000.
After this substantial correction, though, the situation changed once more. BTC started to increase in value rapidly, added nearly $4,000, and neared $63,000 once again. After coming just 3% away from its ATH of $65,000, bitcoin has retraced slightly now and stands around $62,000.
Its market capitalization has increased above $1.150 trillion, while the dominance over the altcoins sits at 47% as most have failed to follow it north.
Altcoins Trail Behind BTC
It has been rather common lately that most alternative coins have been unable to display the same gains as their leader. Ethereum took a swing at $4,000 during the weekend but failed early and has now retraced to just over $3,800.
Cardano, Ripple, Solana, Uniswap, Litecoin, and Avalanche are also slightly in the red. In contrast, Binance Coin, Polkadot, and Dogecoin have charted minor gains on a 24-hour scale.
Stacks has seen the most impressive price increase from the top 100 coins with a 22% surge. As a result, STX now trades above $2.5. Zcash and Shiba Inu follow with similar jumps of 8%.
The cryptocurrency market cap neared $2.5 trillion once again, after a $30 billion increase in a day.
OhNoRipple via https://www.ohnocrypto.com/ @Jordan Lyanchev, @Khareem Sudlow